RCBC
‘ The fact is , digital transformation and financial inclusion go hand-in-hand ’, Lito explains . ‘ Pushing for digital transformation requires financial access for all , through innovative solutions powered by digital ’.
LITO VILLANUEVA
TITLE : EXECUTIVE VICE PRESIDENT AND CHIEF INNOVATION AND INCLUSION OFFICER
Going Digital So far , the results have been impressive . In June 2021 , RCBC ’ s InstaPay and PESONet transactions increased by a respective 118 % and 579 % from last year . Cardless ATM withdrawals through its mobile app grew by 360 %. In fact , during the pandemic , the bank onboarded more than 1.4 million customers onto its digital finance platforms .
Starting with one per cent digital in 2015 , the Filipino banking industry had aimed to reach 20 % digital by 2020 . Now , BSP predicts that by 2023 , it will digitalise 50 % of its transactions . That brings the country closer to its goal of including 70 % of adult Filipinos in the formal financial system within the next two years .
‘ We revved up our online and mobile platforms ,’ Lito says . ‘ With health protocols in place , we created contactless transaction options in both the RCBC Online for our techsavvy customer and DiskarTech app for the tech newbies . No need for physical banking ’.
1960
Year founded
6,003 Number of employees .
US $ 339mn Revenue ( Php 17.117 bn )
INDUSTRY : BANKING LOCATION : PHILIPPINES
Lito Villanueva is the Executive
Vice President and Chief Innovation and Inclusion Officer for RCBC . Mr . Villanueva also serves as the Chief Digital Transformation Advisor for the Yuchengco Group of Companies . Concurrently , he is also the founding chairman of Fintech Alliance . ph .
Mr . Villanueva is the Philippines ’ leading and award- winning thought leader on digital transformation and inclusive digital finance . Recently , he was named at the Innovation in Digital Banking Awards 2021 as the Chief Innovation Officer of the Year by the " The Banker ," the prestigious , Financial Timesowned international monthly publication on financial affairs .
He has over 20 years of experience in banking , telecommunications , payments , development finance , advisory , and financial technology . He is merited with over 60 global and regional awards , including being named one of the Top 100 FinTech Leaders in Asia and " Mr . Fintech of the Philippines " by BizNewsAsia .
EXECUTIVE BIO